Fashion
Rising rivalry slashes $20 billion value in Indian fashion chain
By
Bloomberg
Published
January 7, 2026
Trent Ltd., once a market darling that topped India’s stock benchmark NSE Nifty 50 Index in 2024, is stuck in a deepening rout as slowing sales and fierce competition worry investors.
Shares of the Tata Group company sank nearly 40% in 2025, marking the retailer’s first annual decline in more than a decade, and dropped another 9% on Tuesday following disappointing third-quarter performance update.
The Mumbai-based company, which operates Westside and Zudio fashion outlets, is facing mounting pressure from Reliance Industries Ltd. and Aditya Birla Group, both expanding aggressively into affordable fashion. Urban demand has also remained patchy, eroding investor confidence in a stock once priced at premium valuations.
“It is a challenging time,” Karan Taurani of Elara Securities India Pvt. said. The retailer, which also operates the Star Bazaar grocery chain and Inditex’s Zara and Massimo Dutti stores in India, has to “reinvent their product” to stay ahead of peers, he added.
Trent’s post-pandemic boom was powered by Zudio, which converted aspirational buyers into loyal shoppers with trendy styles priced as low as 399 rupees ($4.4). But as growth cooled, the retailer began diversifying in 2025, launching youth-focused label Burnt Toast, expanding Zudio Beauty, and pushing into categories such as footwear, personal care and innerwear- segments that contributed 21% of sales in the September quarter. Westside has also moved into lab-grown diamonds to attract older, premium buyers.
Returns from these initiatives may take months to materialise, Taurani said.
Still, hopes are high that the moves will revive growth. Abhijeet Kundu, an analyst at Antique Stock Broking, expects accelerated store expansion at Westside in coming quarters, and sees Trent continuing to outperform peers led by its store experience and expansion strategy.
The company added 65 stores across Westside and Zudio in the December quarter, but revenue per square foot- a key investor metric- fell 16% from a year earlier.
That has made Citigroup “cautious” on Trent, according to its Mumbai-based analyst Ashish Kanodia, who cited factors like “increasing competition, the impact of cannibalisation, and new-store expansion” in smaller towns continuing to weigh on the stock.
Fashion
Germany’s employment steady at 46 mn in November 2025
Without seasonal adjustment, the number of persons in employment rose slightly by 7,000 month- on-month. This increase was weaker than the average rise typically recorded in November between 2022 and 2024, signalling softer labour market momentum towards the end of the year, Destatis said in a press release.
On a year-on-year (YoY) basis, employment in November 2025 was 51,000 lower than in November 2024, representing a decline of 0.1 per cent. This continued the mild downward trend observed since July, with similar annual declines recorded between August and October.
Germany’s employment held steady at around 46 million people in November 2025, with seasonally adjusted figures virtually unchanged MoM, according to Destatis.
Employment was 0.1 per cent lower year on year, extending a mild downward trend.
Unemployment rose to 1.64 million, up 11.6 per cent from a year earlier, while the adjusted jobless rate remained stable at 3.8 per cent.
Unemployment, however, showed a clearer increase. The labour force survey indicated that 1.64 million people were unemployed in November, up by 171,000, or 11.6 per cent, compared with a year earlier. The unemployment rate rose to 3.7 per cent, up 0.4 percentage points YoY.
After adjusting for seasonal and irregular effects, unemployment stood at 1.67 million, an increase of 7,000 from October. The adjusted unemployment rate remained unchanged at 3.8 per cent, suggesting limited short-term movement despite rising annual pressures.
Fibre2Fashion News Desk (SG)
Fashion
Cotton yarn prices up in north India on rising fibre rates
Fashion
Next sales and marketing chief Shields to retire, Barnes steps up
Published
January 9, 2026
Next said Friday that Jane Shields, its group sales, marketing and HR director, is planning to retire from the company in May.
She’ll step down from the board on 21 May with the company saying she retires “after 40 years of outstanding service”. She actually joined as a sales assistant way back in 1985, was promoted to sales director 14 years later, then group sales & marketing director in 2010. She joined the board three years after that.
So who’s taking her role? Matt Barnes will be promoted to the role of group sales and marketing director and “will take on most of Jane’s operational remit”. That means e-commerce, brand marketing, retail stores and online customer services.
Barnes is another company veteran who joined in 1999. He’s currently online customer service director and won’t be joining the board “at this stage”.
Meanwhile the company also announced some non-exec director board changes with Jonathan Bewes, senior independent director and chairman of the Audit Committee, set to retire from the board on 21 May after a nine-year tenure.
Annette Court and digital specialist Jeni Mundy will be appointed as independent non-executive directors with effect from 1 March and 1 April, respectively. Court will be appointed as senior independent director from 21 May. Soumen Das is also being appointed Audit Committee chair at the same time.
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